DUBAI, April 30 (Reuters) - Dubai shares rose on Monday, helped by strong earnings at Emaar Development and outperforming the Gulf region, where most markets weakened amid a slight correction in oil prices and selective profit-taking.

Oil dipped after a rising rig count in the United States pointed to higher production there, but markets held near their highest in more than three years.

Emaar Properties jumped 2.7 percent, while its unit Emaar Development climbed 0.9 percent after the development firm recorded a net profit of 819 million dirhams ($223 million) in the first quarter of 2018, versus 506 million a year earlier.

SICO Bahrain had forecast a net profit of 767 million dirhams and EFG Hermes' forecast was 800 million dirhams.

"The results from Emaar Development as well as Emaar Malls suggest the group is navigating the current downturn rather well," said Vrajesh Bhandari, a portfolio manager at Al Mal Capital.

Saudi National Petrochemical Co (Petrochem) jumped 2 percent after solid quarterly results, making a net profit of 333.9 million riyals versus 167.9 million a year earlier.

In Abu Dhabi, Etisalat lost 0.9 percent and Aldar Properties declined 0.5 percent, pulling down the main index.

Dana Gas rose 4 percent, rebounding from a sharp drop in the previous session. The stock has been volatile after an English court refused the company´s application to overturn a previous order restraining Dana Gas from distributing dividends to its shareholders for 2017.